Long Island City-centric Modern Spaces and Brooklyn-based EXR Group are expanding into the commercial real estate realm.
Modern Spaces, which has grown beyond its Long Island City roots with Manhattan and Brooklyn offices, is launching a commercial and investment property division to be headed by Evan Daniel. The new division will provide both leasing and investment sales services, covering office, industrial and retail leasing as well as land and property sales across all asset categories.
“Evan shares our passion for and expertise in this market, and he also has the skills and vision to serve his customers while building an outstanding operation to grow beyond Long Island City in the future, as we have done with our residential practices,” Eric Benaim, CEO and co-founder of Modern Spaces, said in a prepared statement. Mr. Daniel will be joined by two other commercial brokers.
Mr. Daniel was most recently a director of sales at Massey Knakal Realty Services, where he exclusively covered the Long Island City and Astoria markets. Thew new Modern Spaces commercial and investment property group will have a home base in Long Island City. The firm plans to add commercial leasing brokers and investment salespeople who specialize in multifamily, office, retail, hotel and industrial assets.
At EXR Group, Richard Zangrillo is heading up EXR Commercial. Mr. Zangrillo, who was most recently at Bond New York working on Manhattan residential and commercial deals, brought with him agents Andrew Lenis and Celia Goble to start up the Brooklyn-focused division.
“We are opening our commercial division at this time in response to our landlords’ requests,” said Mario Faggiano, a managing partner at EXR Group, in a statement. “Our landlords want us to bring their commercial spaces to market and we saw the opportunity to do so with [Mr.] Zangrillo’s help.”
The newly founded EXR Group and its 10 brokers will be moving into the company’s new 1,500-square-foot headquarters at 160 Havemeyer Street between South 2nd and 3rd Streets in Williamsburg, once construction is complete. The firm is is temporarily located on South 11th Street between Wythe Avenue and Berry Street in Williamsburg.